Wednesday, 13 January 2016

Naira crashes to 300 against dollar at the parallel market

Yesterday, following Mondays stoppage of foreign exchange sales to Bureau De Change operators by the CBN, Naira exchanged for 300 against the U.S dollar in Kano, 290 in Lagos and 292 in Abuja.

Before the stoppage, Naira was trading at 285 against the dollar. Financial experts say the Naira would decline further, while private sector operators described the move as a welcome development...... as it'd soon make d official rate become 1 Naira to 1 dollar.....

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